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BTC/USD Turning Bearish Below $47,000

Bitcoin Price Prediction – March 30

The Bitcoin value extends the bearish motion beneath the opening value of $47,000 after quite a few trials to maintain features above $48,000.

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key ranges:

Resistance Levels: $52,000, $54,000, $56,000

Support Levels: $43,000, $41,000, $39,000

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD couldn’t cross above the resistance stage of $48,000 in the present day as the most important cryptocurrency launched into a help smashing train after failing to maintain above $47,000. Therefore, the bearish management is seemingly to play out throughout the market with different main digital belongings posting related losses as they commerce beneath the higher boundary of the channel.

Bitcoin Price Prediction: Bitcoin (BTC) Could Add More Pains

The Bitcoin value is hovering at $46,988 with an intraday lack of 0.98%. The incoming development is bearish with increasing volatility, and the primary digital asset is seemingly to consolidate in a bearish flag sample. Meanwhile, a breakdown beneath the 9-day transferring common is supposed to proceed in accordance to the technical indicator Relative Strength Index (14). In this case, BTC/USD is anticipated to drop and keep beneath to hit the crucial help ranges at $43,000, $41,000, and $39,000.

However, ought to the Bitcoin value cross above the higher boundary of the channel; the value may rise to $50,000 important resistance. An extra bullish drive may push the value to $52,000, $54,000, and $56,000 resistance ranges. The technical indicator Relative Strength Index (14) is revealing a barely bearish motion, which exhibits that the market could expertise a downtrend.

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BTC/USD Medium-Term Trend: Bullish (4H Chart)

At the opening of the market in the present day, the Bitcoin value faces up to contact the resistance stage of $47,608 however begins to drop, bringing its value to commerce round $47,100. Meanwhile, ought to the value proceed to drop additional and transfer beneath the decrease boundary of the channel, it may attain the help stage at $44,500 and beneath.

BTCUSD – 4 Hour Chart

Moreover, if the bulls push the coin above the 9-day transferring common, the Bitcoin value may go to the resistance stage of $50,000 and above. Presently, the market could expertise extra downtrends because the Relative Strength Index (14) strikes to cross beneath the 60-level.

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